The Europe Lung Monitoring Devices Market would witness market growth of 5.8% CAGR during the forecast period (2023-2030).
The demand for lung monitoring devices is not just prevalent in developed nations. The market is expanding as a result of factors such as the rise in hospital admissions, the number of surgeries, and the increased public awareness of the benefits of lung disease early diagnosis. Additionally, the predominance of respiratory disorders is triggered by the rise in air pollution levels brought on by burning fossil fuels, car exhaust gases, and emissions from industry and agriculture.
As a result, the expansion of the market is driven by an increase in the prevalence of respiratory illnesses. In addition, manufacturers' increased research efforts to create cutting-edge lung monitoring devices are anticipated to fuel the market's expansion. Likewise, the healthcare industry is experiencing an increase in public-private funding for targeted research initiatives.
Also, the number of smokers and drinkers, as well as product innovations and development due to technological advancements all over the world is growing continuously and is anticipated to grow further over the forecast period. In the future, the market’s growth rate will be further accelerated by factors such as unhealthy individual lifestyles, rising internet penetration rates, an ageing population base, an increase in pollution levels, product development and commercialization, and rising per capita health care spending.
In England, smoking is one of the primary causes of health inequalities, with the harm focused on disadvantaged groups and communities. In 2019, around 13.9% of adults in England still smoked, approximately 6 million people. Smoking is one of the leading preventable causes of illness and premature death, responsible for around 74,600 deaths in England. In addition, one in 4 patients in a hospital bed is a smoker. The rising number of tobacco consumers will also increase the number of lung-based diseases and thereby surge the usage of lung monitoring devices for their treatments, boosting the market growth in the region.
The Germany market dominated the Europe Lung Monitoring Devices Market by Country in 2022; thereby, achieving a market value of $329 million by 2029. The UK market is exhibiting a CAGR of 4.9% during (2023 - 2030). Additionally, The France market would experience a CAGR of 6.5% during (2023 - 2030).
Based on Product Type, the market is segmented into Spirometers, Capnographs, Pulse Oximeters, and Others. Based on End User, the market is segmented into Hospitals, Homecare, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Worldwide Lung Monitoring Devices Market is Projected to reach USD 5.1 Billion by 2030, at a CAGR of 6.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Teleflex, Inc., Medtronic PLC, Masimo Corporation, Baxter International, Inc. (Hill-Rom Holdings, Inc.), Nihon Kohden Corporation, ICU Medical, Inc., Vyaire Medical, Inc. (Apax Partners LLP), Becton, Dickinson and Company, Koninklijke Philips N.V. and Propeller Health (ResMed, Inc.)
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